RVU, owner of home services switching service Uswitch and financial comparison site Money.co.uk, has completed the previously announced agreement to buy the business of Penguin Portals from Admiral Group plc.
Penguin Portals is a global network of market leading insurance-focused comparison platforms that include Confused.com in the UK as well as Rastreator in Spain and LeLynx.fr in France. The network of almost 700 employees also includes a start-up in Mexico and a development centre in India.
Tariq Syed, CEO of RVU, said: “This is a win for our brands, our teams and most importantly our customers, bringing together best in class sector experience in home services and insurance. We now have the opportunity to empower millions more consumers to find the right deal for their needs, across the UK, Europe and beyond. With world class expertise and a strong shared vision, I’m incredibly excited to see the opportunities that we can create together.”
For additional details on the transaction, please refer to the joint press release distributed by RVU on 29th December 2020.
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Formed in May 2018, RVU is the Comparison division of ZPG, which is jointly owned by US-based Red Ventures, a global group of influential brands, digital platforms and strategic partners, as well as Silver Lake, GIC and PSP Investments.
With offices in London, Cardiff, Madrid, Paris, Mexico City and Gurgaon, RVU’s mission is to use its unique industry expertise to empower consumers to make more confident home services, insurance and financial decisions.